US Dollar Index rises modestly on election day

The US dollar index rose during the America session boosted by gains of the Greenback against European currencies and the yen. The USD dropped versus commodity and emerging market currencies amid risk appetite. 

In Wall Street, the Dow Jones is about to end in positive territory, with a gain of 0.55%. The index reached the highest level in four weeks before pulling back modestly. The Nasdaq was up 0.72% and the S&P 0.56%. In the bond market, US yields were rising. The 10-year hit 1.879%, the highest since January.

DXY rises toward the 20-day moving average

The Dollar index dropped modestly during the Asian session but then resumed the upside and broke above yesterday’s highs and climbed to 97.93. Below the 98.00 area and also under the 20-day moving average lost strength but remained near the highs. It was about to end the session around 97.85/88, up 0.16% for the day. From Friday’s low, the DXY has risen more than 1%. 

Volatility across financial market could rise during the next hours when official results from US states start to surge. Price action during the last hours appear to have discounted a Clinton victory, so any surprise on the other direction, could trigger sharp moves. 

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